First Commonwealth Financial (FCF) Stock Rating Lowered by Zacks Investment Research

First Commonwealth Financial (NYSE:FCF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “First Commonwealth Financial Corporation is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended. The Corporation operates two chartered banks, First Commonwealth Bank and Southwest Bank. Personal financial planning and other financial services and insurance products are also provided through First Commonwealth Trust Company and First Commonwealth Insurance Agency. The Corporation also operates through Commonwealth Systems Corporation, a data processing subsidiary. “

Several other equities research analysts also recently issued reports on FCF. B. Riley restated a “hold” rating and set a $16.00 price objective on shares of First Commonwealth Financial in a research report on Thursday, January 25th. Keefe, Bruyette & Woods restated a “hold” rating and set a $16.00 price objective on shares of First Commonwealth Financial in a research report on Monday, January 29th. Boenning Scattergood restated a “hold” rating on shares of First Commonwealth Financial in a research report on Thursday, January 25th. FBR & Co restated a “neutral” rating and set a $14.00 price objective on shares of First Commonwealth Financial in a research report on Friday, October 27th. Finally, ValuEngine downgraded shares of First Commonwealth Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $11.86.

First Commonwealth Financial (NYSE:FCF) traded down $0.20 during trading on Tuesday, reaching $14.24. The company had a trading volume of 407,700 shares, compared to its average volume of 544,576. First Commonwealth Financial has a fifty-two week low of $12.05 and a fifty-two week high of $15.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $1,390.00, a PE ratio of -64.73 and a beta of 0.94.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. First Commonwealth Financial had a return on equity of 9.24% and a net margin of 16.67%. The business had revenue of $80.98 million during the quarter, compared to analysts’ expectations of $80.90 million. During the same quarter last year, the company posted $0.20 earnings per share. First Commonwealth Financial’s quarterly revenue was up 15.2% on a year-over-year basis. sell-side analysts anticipate that First Commonwealth Financial will post 1.02 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. raised its position in shares of First Commonwealth Financial by 11.1% in the second quarter. Ameritas Investment Partners Inc. now owns 8,496 shares of the bank’s stock valued at $108,000 after buying an additional 846 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of First Commonwealth Financial by 130.2% in the fourth quarter. Meeder Asset Management Inc. now owns 8,882 shares of the bank’s stock valued at $127,000 after buying an additional 5,023 shares in the last quarter. Algert Global LLC acquired a new stake in shares of First Commonwealth Financial in the third quarter valued at approximately $141,000. NEXT Financial Group Inc acquired a new stake in shares of First Commonwealth Financial in the third quarter valued at approximately $181,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of First Commonwealth Financial in the third quarter valued at approximately $249,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.

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First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation is a financial holding company. The Company, through its subsidiary, First Commonwealth Bank (the Bank), provides a range of consumer and commercial banking services. The Company also provides trust and wealth management services, and offers insurance products through the Bank and its other operating subsidiaries.

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